Colliers International: hotel occupancy in 4 Egyptian cities records 48% in 2016

Hotel occupancy rates in Egypt’s Sharm El Sheikh, Hurghada, Cairo, and Alexandria are expected to record 30 percent, 31 percent, 61 percent, and 71 percent, respectively, during 2016.

In its report, the U.S.-based commercial real estate services organization Colliers International anticipated occupancy rates at the four cities to hit 48 percent in 2016.

The report showed that the average daily rates (ADR) within Sharm EL Shiekh recorded US$51 while the revenue per available room (RevPAR) is set to reach US$15, making a 49 percent decline.

The ADR levels within Hurghada are estimated at US$60 while the RevPAR registered US$19, making a 48 percent drop, the report stated.

Colliers International expected hotel occupancy within Cairo to reach 61 percent in 2016 with ADR of US$143 and RevPAR of US$154, marking a 15 percent rise in occupancy levels.

Moreover, the report pointed out that hotel occupancy rates in Alexandria are expected to record 71 percent in 2016 with ADR estimated at US$85 and RevPAR of US$60, making a 13 percent hike.